Strike Graphite Corp (SRK:CA)

As a new issuer on the TSX Venture Exchange trading under the symbol SRK, Strike Graphite is a progressive exploration company with seasoned management currently exploring its Satterly Lake project in NW Ontario while also evaluating strategic and targeted precious metal assets and opportunities on a global scale. At present projects in both South America and Africa are now under assessment and targeted for acquisition by Senior Management.

Projects

Deep Bay East Project

The Deep Bay East Project covers approximately 5,500 hectares (13,590 acres) and is located 25 kilometres east of the community of Southend, Saskatchewan and less than 15 kilometres east of the Deep Bay West Graphite Mine.
The property is noted for its potential to host a near-surface graphite deposit comprised of scarce, large-flake, high-purity graphite. The property is situated within high-grade metamorphic rocks of a sedimentary origin which is an ideal setting for the development of these types of deposits.
The property has been explored for graphite since the 1960s, with surface trenching, mapping, electromagnetic surveys and limited diamond drilling (4 holes totalling 383 metres). The historic drilling and trenching was completed on an east to northeast trending conductor along 1,600 metres of strike length. The exploration identified high grades of graphite across thick intervals as follows:
Deep Bay: Drilling and Trenching Highlights

The Deep Bay East Project was explored by Sherritt Gordon Mines Ltd. in the 1960s and later by Superior Graphite Company in the 1970s as they searched for secure sources of flake graphite. The property was discovered at the same time as the Deep Bay West Graphite Mine located about 15 kilometres to the west of Strike's Property.
The Deep Bay West Mine is currently being advanced towards production and is host to a historic non-NI 43-101 compliant resource of "1.8 million tonnes grading 10.32% C to a depth of 60 metres (Saskatchewan Mineral Deposit Index Report #0480). The geology and grades of the Deep Bay East Project appear to be similar to the Deep Bay West Mine. Recent testing of graphite from Deep Bay West achieved >95% carbon content for all flake sizes +32+50+80+100 and -100. Further treatment was able to achieve >99% purity (Noble Bay Mining Development Inc.).
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Simon Lake Project

The Simon Lake Graphite Project covers 3,472 hectares (8,579 acres) located approximately 280 kilometres northeast of La Ronge, Saskatchewan and is a short distance east of Highway 905. The property consists of several showings of flake graphite mineralization in historic drill holes which were discovered during the exploration of base metals. Historic Drill Hole 2-72 encountered a graphitic, biotite gneiss with visual estimates of zones containing from a few percent up to 70 percent graphite across a 68 metre interval. Approximately 5.5 kilometres to the southwest, along a conductive zone, Drill Hole 42-5 encountered a graphitic, biotite gneiss with visual estimates of graphite ranging from 5 to 70 percent across a 21 metre interval.
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Boma Property

The Boma Property is located in the Tanga Province, Kilindi District of northeastern Tanzania, 245 kilometres northwest of the city of Dar es Salaam or 50 kilometres due west of Handeni. It comprises three contiguous Prospecting Licences PL 6883, 6871, and 6863 that were granted by the state to Canaco Tanzania Limited, a wholly-owned subsidiary of Canaco Resources Inc. and cover a 562.56 km² area for gold and other base and precious metals. Access is possible via a paved highway to within 80 kilometres and an all-weather dirt road thereafter.
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Satterly Lake

The Satterly Lake Property – Project Summary
Senior Management presently views Satterly Lake as a strong project of merit that easily warrants the expenditures contemplated in the option agreement. Highlights from reported historic results (prior to NI 43-101) carried out by St. Joe Canada (Bond Gold) in the 1980’s that consisted of extensive surface sampling, trenching and +9,500 metres of drilling on 72 diamond drill holes are drill intersections of up to 1.37 grams per tonne gold over 117 meters to an average depth of 106 meters.
Work compliant to NI 43-101 carried out since 2009 has yielded positive results, and are highlighted as follows:

• Highest gold assay produced during this time was 8.2 gpt gold from a quartz carbonate veing at the Green Camp North Showing;
• 20 gold assays from the Green Camp North Showing averaged 1.1 gpt gold, while;
• 600 meters south-southwest at the Green Camp Showing 8 samples averaged 1.2 gpt gold (with a maximum gold assay of 4.4 gpt).

The 2011 summer campaign will look to further test the Green Camp and Green Camp North prospects with the aim to develop drill targets (for a subsequent program).
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